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Dudley Building Society > Savings > Speedway Saver

Speedway Saver

Interest Rate (Effective from 01/07/11)
Amount*Annually Gross % PA*Annually Net % PA*Monthly Gross % PA*Monthly Net % PA*A.E.R Rate % PA
£100+0.05%0.04%N/AN/A0.05%
£10,000+0.10%0.08%N/AN/A0.10%
£25,000+0.20%0.16%N/AN/A0.20%
Available To:Existing customers and new customers who are personal savers resident in the U.K.
Investment:Minimum: £100.
Maximum: £500,000 (representing the overall limit for savings with the Society for each individual).
Withdrawals:7 days notice to make a withdrawal with no loss of interest, you may make an instant access withdrawal with 7 days loss of interest.
Interest:Variable, current rates for Speedway Saver can be found in our Interest Rate Guide. Interest paid annually 31st March.
Other Criteria:Dudley Building Society will make an annual donation to Dudley Heathens Speedway equivalent to 0.25% of average month end balance.
Main Features

Notes

  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
  • Gross is the interest paid before the deduction of income tax at the rate specified by law.
  • Net is the interest paid after the deduction of income tax at the rate specified by law.
  • Interest will be payable net of income tax at the rate required by law. Tax may be reclaimed from HM Revenue & Customs where the amount deducted exceeds an investor's liability to tax (if any). Individuals who are liable at the higher rate of income tax of 40% will have to pay additional tax on the interest to cover the difference between the tax deducted and the higher rate of tax due.
  • If you are entitled to receive your interest gross, complete the HM Revenue & Customs form R85 in accordance with HM Revenue & Customs regulations and forward to your nearest Dudley Building Society branch.
  • The interest rate is variable and not linked to any of the Society's other savings rates.
  • This information should be read in conjunction with the account Terms and Conditions, Members Guide and the Interest Rate Guide.
  • Full Terms and Conditions of Dudley Building Society savings accounts are available on request.

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